Rivers Edge developer: Subsidies will pave way

Developers have not yet closed on property for condos project

2:58 AM,
Jul. 2, 2013

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In as little as two months, one of the city's most notorious eyesores could be torn down to make way for a first on Delmarva: an affordable housing community built especially for artists.

But developer Osprey Property Co. still finds itself looking for financial support, despite a $3.2 million incentive package issued by state housing officials earlier this year.

"We're still not there yet. We haven't been able to close" on the property purchase, Andrew Hanson of the Annapolis-based company told the City Council on Monday. "We're getting closer. We do have a new investor who's excited to ...